Tuesday, November 27, 2012

Hetero and UAE based Neopharma enter into a Joint Venture

UAE based Neo pharma has set up a joint venture with Hyderabad-based Hetero Group. The JV company will be known as Nexgen Pharma and will  manufacture  and distribute medicines in the UAE..  In the the first phase of the collaboration Nexgen will be distributing 21 drugs from Hetero. As the registration process progresses   over the next 2 year, the product base will double to 50. By 2016, the JV would be distributing about 100 products.

This is the  second JV in the recent past for the Middle east region. The other JV announced recently was between Newbridge and UCB.